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After Maha Kumbh stampede, snan resumes amidst caution
After the stampede incident at the Kumbh Mela, the Mahakumbh Snan has begun and thousands of devotees were carrying out their rituals at the ghats. However, the akhadas are yet to confirm if Amrit Snan will be resumed.
The city has also taken additional precautions to manage the crowds. Uttar Pradesh Chief Minister Yogi Adityanath took to X (formerly Twitter), urging devotees to follow safety measures and appealed to everyone to refrain from moving towards the Sangam region unless necessary.”Mahakumbh-2025, to all my dear devotees in Prayagraj, please take a dip at the ghat nearest to you. Avoid heading towards Sangam or other congested areas. Follow all instructions from the administration and cooperate in maintaining order. Devotees are bathing peacefully at all ghats. Do not pay heed to any rumours,” Adityanath wrote on X.
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Stampede at Maha Kumbh: What caused it
BHEL ‘buy’ recommendations from analysts are at the highest in over a decade
41% of the 17 analysts who have coverage on state-run Bharat Heavy Electricals Ltd. (BHEL) have a “buy” recommendation on the stock. This is the highest level of “buy” recommendations for the PSU dating back to 2011.
Seven out of those 17 analysts have a “buy” rating on BHEL, while eight of them still have a “sell” recommendation. Two others have a “hold” rating.BHEL reported its December quarter results after market hours on Tuesday, January 28, where its revenue went up by 32% from last year aided by better execution in the Power & Industry segment.
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Budget 2025 expectations LIVE updates: Budget Session begins on Jan 31 with President’s address
President Droupadi Murmu will address the Houses of Parliament assembled in the Lok Sabha chamber on Friday (January 31) – marking the start of the Budget Session – and Finance Minister Nirmala Sitharaman will present the General Budget on Saturday (February 1).The Finance Minister will table the Economic Survey on Friday when Lok Sabha and Rajya Sabha will convene briefly after the President’s address.Lok Sabha will discuss the Motion of Thanks to the President’s address on February 3-4, while Rajya Sabha has allocated three days, with PM Modi expected to reply on February 6.
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Starbucks comeback gains momentum with sales slump easing
Starbucks Corp.’s quarterly sales declined less than expected, signalling that the customer retreat that had rattled the coffee chain is starting to subside.
Same-store sales fell 4% in the fiscal quarter ended December 29, the company said in an earnings release Tuesday. That’s an improvement from the 7% slump Starbucks reported in the prior quarter and a smaller decline than analysts polled by Bloomberg were anticipating.Chief Executive Officer Brian Niccol, who has been in the job since September, is moving to remake the company after boycotts, price increases and slow service sparked a slump in performance. Some of the most recent steps to upgrade the diner experience, implemented on Monday, include bringing back ceramic mugs and the condiment bar. The company has also dropped the upcharge for nondairy milk and rolled out new advertising focused on its coffee heritage.
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#TechTalks????
The secret of DeepSeek’s stunning success
DeepSeek’s Founder Liang Wenfeng demonstrated state-of-the-art artificial intelligence capabilities by achieving what tech giants considered impossible. He developed a competitive AI model for just $5.6 million.
The 40-year-old finance expert started his venture by purchasing thousands of NVIDIA chips in 2021 and evolved from a successful hedge fund manager into a powerful force in the global digital world. His remarkable story started at High-Flyer, China’s first quantitative hedge fund that exceeded 100 billion RMB, which he co-founded in 2015.
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ShareChat sets up its first Southeast Asia AI Centre of Excellence in Singapore
Homegrown social media company ShareChat on Tuesday announced the opening of its first Southeast Asia AI Centre of Excellence in Singapore.
The move marks ShareChat’s third establishment outside India, after the US and UK.The new centre will help the organisation reach a larger network of highly specialised AI talent in the region, build a technological stack and deliver an robust experience to its community, a company release said. ShareChat and Moj (a short video app by the social media platform) have a cumulative reach of over 325 million users and operate in 15 Indian languages, the release said and noted that building innovative solutions focused on content discovery and recommendation play a huge role for both the platforms.
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#DailyData????
#PersonalFinance????
76% of Gen Z choose steady investment options for financial security: Survey
The Anishchit Index 2024 by Aditya Birla Sun Life Insurance reveals a shift in how India’s youth are tackling financial uncertainties. Far from the stereotype of impulsive spending, Gen Z and Millennials are prioritising financial prudence.
Gen Z stands out with the lowest economic uncertainty index at 73.45, showing their adaptability during uncertain times. About 76% of this group prefers steady investment options like fixed deposits, opting for security over speculative gains.Millennials and Gen X share similar views, with over 7
7% favoring low-risk strategies. This challenges the idea that younger generations are inherently risk-seeking, the report said.
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Multi-asset funds outperform Nifty in 5-year returns: Should you invest now?
Multi-asset funds have demonstrated decent returns compared to the Nifty index in recent years. Over the past five years, these funds achieved a return of 17%, compared to the Nifty’s 10.6%.In the three-year period, multi-asset funds delivered a return of 14%, while the Nifty returned 10%.
Given these returns, should investors seeking diversification and balanced risk consider multi-asset funds as part of their strategy?It must be noted that a multi-asset fund combines different asset classes, such as equities, bonds, gold, silver, and international securities, within a single portfolio.This diversification is intended to spread risk across various market segments.
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#startupsworld????
IPO-bound Zepto completes reverse flip to become Indian parent entity
Quick commerce unicorn Zepto has completed its reverse flip from Singapore to India, a move that positions the company for its planned initial public offering (IPO). This development received formal approvals from Singaporean courts and India’s National Company Law Tribunal (NCLT), as announced by the company’s leadership.
“This is a historic milestone for the Indian startup ecosystem and an inflexion point that represents long-term confidence in the liquidity and depth of Indian capital markets,” said Aadit Palicha, Zepto’s co-founder and CEO, in a LinkedIn post.The NCLT had earlier approved Zepto’s plan to re-domicile to India through an order dated January 9, which allowed Kiranakart Technologies Private Limited, the Indian entity operating Zepto, to become the holding company. Previously, Zepto functioned as a subsidiary of Singapore-based KiranaKart Pte Ltd.
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We’ll see you tomorrow with another 11:11
